There is some terrific (ha, ha, ha) economic news - Unemployment reaches a 26 year high - but hey, less than expected!!! Good work the Obama and company!!
PS: One must always be careful when discussing unemployment numbers because what is reported by the labor department can and most times is quite deceiving. The 9.7% represents only new (i.e. first time) applications for unemployment plus those on the rolls right now, they do not account for those who have dropped of the rolls - no longer able to receive unemployment insurance - but have not found a job or are working part time, in this case a few hours a week. The actual unemployment numbers are around 17%, which is really quite a staggering number when you think about it - according to the Bureau of Labor Statistics there are 14.9 million people unemployed - the 9.7% number, but accounting for the actual number 17% - 14.9 million unemployed at 9.7% implies 155 million workers, of which 17% is 26.1 million without a job!!
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